WAL Token Listed on Upbit as Walrus Secures $140M Crypto Funding

South Korea’s largest cryptocurrency exchange, Upbit, has officially listed WAL trading pairs. WAL, the native token of Walrus, is now available for trading against the South Korean won (KRW), Bitcoin (BTC), and Tether (USDT). This listing comes on the heels of Walrus securing $140 million in funding, further strengthening its position in the blockchain storage industry.

Why This Listing Matters

Walrus is a blockchain-based storage protocol designed to improve decentralized storage for blockchain applications. By offering a secure and efficient alternative to traditional storage solutions, it aims to enhance the way data is stored and managed in the crypto space.

Upbit’s decision to introduce WAL trading pairs is a major milestone for the Walrus ecosystem. With South Korea being one of the most active crypto markets, the listing is expected to drive significant trading volume. 

The availability of trading pairs in KRW, BTC, and USDT makes it easier for investors to buy and sell WAL using their preferred currency. Analysts believe this move could improve WAL’s liquidity and potentially drive up its price, as has happened with other tokens listed on Upbit.

Strong Backing and Investor Confidence

One key factor that makes Walrus stand out is its connection to the team behind Sui, a well-known blockchain project. With Sui’s solid reputation, many investors see strong potential in Walrus and its long-term success.

Liquidity and Trading Guidelines

Although the listing has been announced, Upbit has stated that full trading support will take some time as the exchange works to ensure enough liquidity. Traders are advised to follow updates from Upbit regarding trading availability.

Upbit has also shared important guidelines for deposits and transactions:

• WAL transactions will only be supported through the Sui network. Users must confirm they are using the correct network before making deposits.
• Deposits made before WAL appears on CoinMarketCap or before trading begins will be subject to Traveler’s verification, especially for transactions over $1 million.

With strong investor backing and a listing on one of South Korea’s largest exchanges, Walrus is gaining momentum in the blockchain storage industry. Crypto traders and investors will be watching closely to see how WAL performs in the market.

Looks like the storage wars just got a little more interesting, huh? Guess we’ll see where this current takes us.